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recovery. 40% of the long-term growth in federal health programs is due to rising health-care costs, generally. 40%. 60% is due to americans aging. in fact, each and every day, and 10,000 americans turn 65. every day. 10,000 americans enter medicare. as chairman of the finance committee, i can influence a lot of policies, but i cannot keep folks from getting older. we need to focus on what we can influence, and that is over all health care cost. shifting cost to seniors is not the solution. we cannot break the promise of medicare and social security. that is a bedrock. we cannot break that promise. i was proud to how crafty affordable care act and we took major steps to slow the growth of health-care spending and strengthen medicare and medicaid, but there is still more to do. we need to focus on facts. if you turn on any television during the campaign season you saw attack ads claiming billions of cuts to medicare, putting seniors at risk. nothing could be further from the truth. there were zero cuts to medicare beneficiaries in the affordable care act. these ads are the types of m
of my health-care consumption. it will make it more costly and i will start shopping for health care. that will create more transparency and get the growth in health-care costs down. we do not know what is gone to work, but there are some interesting -- what is going to work, but there are some interesting new programs that have potential. we should see how those worked out before we engage in some very significant structural changes. like a voucher program. we may have to go down that path, but it is much too premature to do that. we should see how these developments work. up, if temporarily going over the cliff is necessary to achieving a good agreement, lawmakers should not hesitate to do so >" how long do think we could stay over the cliff without doing significant damage to the economy? >> i think you could go into early february. by early february, it looks like you are not coming to a deal and investors began to discount the likelihood you're not coming to a deal, you will see stock prices decline, the bond market reacted. by mid-february, it would be doing a lot of damage. by
and the provisions of simpson-bowles. and health-care simpson-bowles would maintain the obamacare medicare cost savings, establish malpractice reforms, explain all that for us. guest: there are a number of provisions in the reform plan that you actually provide some cost constraint to was a very -- constraints which are very important. this increases the purchasing power of individuals. it helps what individual spends on health care. they have a number of medicare changes that were used to help in both pain for the expansion of coverage under obamacare as well as proposals. one of the most of for a thing they propose is a global budget on health care. should help care rise, you basically have a situation where they would be read quired -- required to come back and make changes to what the government is spending on health care in order to drive those costs down. host: independent caller. caller: thank you for taking my call. my question is this. it is seems to me that both the left in the right made up this term is " good to scare everybody. and to make it clear that we cannot do this. it seems
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